Xiamen rolls out plan to make business environment more international

The financial center of Xiamen. [Photo/Xiamen Daily]

Xiamen recently issued the "Implementation Plan for Enhancing the Internationalization of the Business Environment in Xiamen (2024-2026)", which is the second major policy on business environment released by the city this year.

The plan is expected to help make Xiamen a leading example of how to create an internationalized business environment.

The plan includes 19 measures in five key areas: aligning with high international economic and trade standards, promoting legal alignment and innovation domestically and internationally, accelerating the connectivity of domestic and international comprehensive transportation hubs, attracting international high-end resource elements, and enhancing international scientific and technological innovation to empower industrial capabilities.

To align with high international economic and trade standards, it proposes the exploration of initiatives such as cross-border data flow, green finance, and carbon footprint in specific areas such as the Xiamen Free Trade Zone. It also supports the establishment of foreign-funded banks, insurance companies, and other financial institutions in Xiamen.

The plan calls for the gathering of high-end legal resources from domestic and foreign sources to build a one-stop international commercial dispute judicial service platform.

It also emphasizes expanding the international container transshipment business so that more goods transit through Xiamen.